SAN DIEGO, CA Aug. 26, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of two Rite Aid net-leased assets in Southern California. Combined, the two drugstores traded for $6,484,500 and are located in Wildomar, Calif., and San Diego.
Alvin Mansour (lower right photo), a senior vice president and senior director of Marcus & Millichap’s National Retail Group (NRG), represented both the seller and buyer in these two separate transactions.
The Rite Aid in Wildomar was sold by a developer to a private investor. Mansour also negotiated the sale of a Rite Aid in San Diego to a private investor. The seller was a family trust.
Despite facing numerous hurdles such as Rite Aid’s poor credit rating and recent store closings across the country, Mansour was able to locate two private investors who understood the value of acquiring well located, single-tenant assets in Southern California.
As one of the most active drugstore investment sales agents in the nation, Mansour sold seven Walgreens drugstores located throughout the country for $36.4 million in June of 2011 alone.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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